It was another frantic weekend in the financial services industry, as one bank closed, two financial giants were reborn, and the Bush Administration proposed a historic $700 billion bailout plan for troubled institutions.
Financial markets had just begun to settle a bit after last week's dramatic events on Wall...
Hurricane Gustav may have hit the state of Louisiana with a broad swipe of rain and high winds, but one bank was ready for whatever it had in store.
BancorpSouth, ($13 billion assets, [BSX: NYSE]), employs more than 3,900 people in about 290 commercial banking, mortgage, insurance, trust and broker-dealer locations...
In the aftermath of Hurricane Ike, one of the largest hurricanes on record, the brunt of the forceful storm that struck the Texas Gulf coast is still being absorbed. With an estimated 52 people dead and damages still being assessed across Gulf coast areas of Texas, Louisiana and other states, Texas Banking...
I have issues with weak passwords and easy to guess answers for challenge questions on password resets. This was Sarah Palin's (Republican vice presidential candidate)apparent problem with her personal Yahoo! email account. It only took a Google search and some thought on a young hacker's part to find out the...
I was presenting at a credit union conference this week, where the session before mine covered current economic conditions. The timing was perfect in a macabre sort of way, as the 24 hours prior were filled with news about the Merrill Lynch rescue and Lehman Brothers collapse. As part of the Q&A phase, a prediction...
You know someone. Out of millions of Merrill Lynch customers, you should know at least one. Combine Bank of America's many more millions of banking customers, and you have to know someone. I know quite a few myself. All of these people are waiting to be absorbed into what is ultimately a new regime. This state of...
There were two crashes heard within the banking industry on Monday.
One was the stock market, which suffered its biggest drop since the aftermath of the terrorist attacks of 2001 - the Dow Jones industrial average alone lost 504 points, or 4.4%. The Nasdaq composite lost 3.6%.
But the second crash may have been...
As regulators turn up the heat on banking institutions to improve vendor management, the industry's emerging standard assessment program has a new look and a new version set to debut this fall.
The Shared Assessments Program, formerly known as the Financial Institution Shared Assessment Program (FISAP), is promoted...
Anti-money laundering has been one of the dominant stories in financial services this year, and the trend isn't likely to abate anytime soon.
In this exclusive interview, attorney and AML expert Ross Delston discusses:
The latest AML trends, including Trade-Based Money Laundering;
How institutions are...
I can't say enough about the mud slinging and finger pointing being done during the continuing mortgage crisis. It is getting ugly out there. Even the government-sponsored enterprises Fannie Mae and Freddie Mac are now under the watchful conservatorship eye of the federal regulators, as the mortgage foreclosures top...
With all the focus on banks and credit unions' work to comply with the ID Theft Red Flags Rule, many in the financial services industry have forgotten that the largest share of entities impacted by this new regulation are non-banking institutions -- finance companies, automobile dealers, mortgage brokers, etc.
And...
To me, this is one of the sleeper stories of the year.
The ID Theft Red Flags Rule, Business Continuity and Anti-Money Laundering have dominated the headlines - and banking/security priorities. But recent attention paid to Application Security has the potential to fuel one major fire drill in 2009.
When I started this job a year ago and reached out to banking/security leaders, the overwhelming message I got was "Security awareness - we don't do it well."
For banking institution employees, maybe there was an information security training seminar when they first started. Or an occasional workshop on identity...
With an estimated damage toll that may reach $12 billion, the aftermath of hurricane Gustav's track through Mississippi, Louisiana and other states finds banks and credit unions cleaning up and reopening their institutions.
Now being the "prime time" for hurricanes, all eyes remain closely fixed to television...
Organizations often face the task of trying to recover data from water-soaked hard disks or servers that have been flooded by hurricanes, bad weather, or even the sprinklers going off in the branch or building.
Rule one -- don't assume that data isn't recoverable, no matter what it has been through, says Jim...
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